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Intraday Sector Performance

After opening higher, the S&P 500 fell sharply this morning.  As shown in the first chart below, however, the S&P 500's low for the day was reached right at 11:30 AM ET (when Europe's markets close), and we've seen a nice bounce since then.

Below we highlight intraday S&P 500 sector performance at 11:30 AM ET as well as since 11:30.  As shown, the Materials (-1.93%) and Energy (-1.11%) sectors were down the most at the market's low this morning, while Consumer Staples was actually up 0.09% at this time.  Since the 11:30 low, the Utilities sector has surprisingly rallied the most of any sector at 0.76%.  The Financial sector, which didn't get hit nearly as hard as some other sectors this morning, is up the second most since 11:30 at 0.67%.  The Technology and Telecom sectors have performed the worst off the bounce at 0.25%.

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